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SoftBank swung back to profitability in its fiscal third quarter, reporting net income of 248.6 billion yuan — roughly $1.6 billion — for the three months ending December. These numbers, as reported by the Financial Times, represent a stark reversal from the 369 billion yuan (53.4 billion USD) loss the company posted in the same quarter last year.
This turnaround of the company’s fortunes was primarily driven by a $4.2 billion gain tied to its stake in OpenAI, which is part of a broader $17…
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SoftBank swung back to profitability in its fiscal third quarter, reporting net income of 248.6 billion yuan — roughly $1.6 billion — for the three months ending December. These numbers, as reported by the Financial Times, represent a stark reversal from the 369 billion yuan (53.4 billion USD) loss the company posted in the same quarter last year.
This turnaround of the company’s fortunes was primarily driven by a $4.2 billion gain tied to its stake in OpenAI, which is part of a broader $17…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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